The scarcely believable scale of the crisis engulfing Thurrock council has been revealed, with a series of failed investments having left a hole in its budget of almost £500m – the biggest ever reported by a UK local authority.
This funding gap has been disclosed today in a council report that hints at the devastating impact of a scandal uncovered over the last three years by the Bureau of Investigative Journalism. However, the report omits vital details about the deals that got the council into this position.
The budget report shows that four investments made by the Conservative-run council have lost a total of £275m. But it does not disclose the companies involved or how much money went into each deal – details the council has spent years fighting to keep secret.
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https://www.thebureauinvestigates.com/stories/2022-11-29/thurrock-council-reveals-500m-black-hole-caused-by-ruinous-business-deals